Dowell Property

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City: Hong Kong

State: Hong Kong Island

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Country: Hong Kong

(Formerly known as Doxen Energy Group Limited) was listed on the Stock Exchange of Hong Kong Limited in 1990. Mr. Luo Shao Yu in mid-October through its wholly-owned private companies successfully acquired 64.98% stake in the Group, the Group&s;s controlling shareholder and chairman of the Board. The new Board, under the leadership of Mr Lo, believes that the catering business is still very difficult at present and that the development space is mainly affected by the rising rents and remuneration and is unable to develop at a high speed. The new Board will therefore rely on the existing management team to maintain and improve the restaurant business. The new Board will also look at other new areas with larger development space and wider market. The Group completed its acquisition of Dongdong Motor in August 2012, which fully demonstrated its efforts and strength to develop new investment property business. In order to better reflect the future direction and business scope of the Group and enhance our positioning, in November 2012, the English and Chinese names of the Company were changed from "Doxen Energy Group Limited" to "China Star Energy Group Co., Ltd." "Dowell Property Holdings Limited".

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